By Taras Kuzio of the University of Alberta
During the course of the four-month long Euromaidan, I have been interviewed nearly 100 times by radio, television and print media from across the globe. Those interviews have revealed three deeply ingrained myths about Ukraine.
These myths are an outgrowth of three factors: Russo-centric biases in the foreign media, which, as in Soviet times, still cover the entire former USSR from Moscow; Russia-focused academic studies on Eurasia, which I remember only too well from my university days in Britain; and the opinions of former Soviet, now Russian left-wing fellow travellers much loved by journalists. Continue reading »
As the general election in India approaches, certain stocks are rallying more than others, such as Gautam Adani’s Adani Enterprises, and the passion of students is underlining the vigour of the world’s largest democracy. Continue reading »
Last week this blog looked at the investment case for Iraq under the headline: “A frontier too far?” So we were struck by a new report today on neighbouring Iran with the opening line: “Iran is beyond the final frontier for portfolio investors.”
One can quibble about which frontier is further but in truth investment in Iran is not so outlandish. The nuclear deal struck between Iran and several world powers in November prompted a renewed look at the investment case for Iran, as has been the case for other markets that have come in from the cold after international isolation, most recently Burma. But in fact, even in isolation, Iran’s capital markets have grown just fine. Continue reading »
On Monday, India’s gold industry went on strike, a symbolic protest against government efforts to curb official imports and limit smuggling of the yellow metal.
The strike has added to pressure on New Delhi to roll back recent hikes in duties and quantitative restrictions on gold imports, which are crippling the trade. But what will happen when a new government comes into power following this year’s general election? Continue reading »
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Inflation watching in Hungary is getting tiring on the eyes: following an unprecedented zero change in prices in January, annual inflation crept up by a whole 0.1 per cent in February, according to figures released on Tuesday.
The figures reinforce the belief that the central bank will continue with its marathon rate-cutting cycle with at least one more cut later this month. Continue reading »
Indian investors may be gloomy about their domestic economy after a sharp slowdown in growth to less than 5 per cent a year, but they seem to have lost none of their enthusiasm for Africa’s emerging markets across the Indian Ocean.
According to a new McKinsey report – “Joining hands to unlock Africa’s potential: A new Indian industry-led approach to Africa” – Indian companies should be able to quadruple their revenues from Africa to $160bn by 2025 by focusing on IT services, agriculture, infrastructure, pharmaceuticals and consumer goods. Continue reading »
** FT News **
* China opens door to new private banks | Groups such as Alibaba and Tencent will be encouraged to back 5 private sector banks in a pilot project Beijing hopes will boost its financial reform
* Europe rally fades as Ukraine worries linger | Nikkei leads regional rebound as Bank of Japan holds policy steady, despite the absence of a strong US lead or any encouraging developments in Ukraine Continue reading »
** FT News **
* Europe prepares sanctions against Russia | Russian foreign minister says western proposals ‘did not fully satisfy us’ and blames Washington for cancelling a trip to Moscow at the weekend
* Feud grows as cleric hits out at Erdogan | Fethullah Gulen, the Islamic preacher embroiled in a battle with the Turkish government, wants to protect rights he says are under siege Continue reading »
It’s easy to criticise India’s democracy for its many shortcomings. But travelling in Madhya Pradesh to gauge the political mood, I was given a clear demonstration of at least one way in which Indian democracy is truly flourishing.
We had arrived at the Swami Vivekananda University, one of the multitudes of private universities that have sprouted up across India to cater to the many students unable to find a place in the government’s over-stretched higher education system. Continue reading »
By Samuel George of the Bertelsmann Foundation
On February 18 the Republic of Argentina submitted a petition to the US Supreme Court requesting a judicial review of a 2012 decision from the New York Second Circuit Court. That ruling found illegal Argentine payments on restructured sovereign debt if the country did not also service investors who had not accepted the haircut on the non-performing bonds.
If the Second Circuit Court ruling stands, it will set a precedent that holdouts could eventually be paid in full. Bondholders may become increasingly reluctant to accept haircuts on sovereign securities, thus complicating the ability of a distressed country to restructure its debt. Continue reading »
By Mike Collier of bne in Riga
With the Russian military heading westwards in a move similar to the ”invited annexation” that saw Estonia, Latvia and Lithuania lose their independence in 1940, it’s hardly surprising the Baltic states are watching events in Ukraine’s Crimea warily. Upcoming elections and a controversial parade to honour soldiers who fought alongside the Nazis will create plenty of flashpoints in these countries with large ethnic Russian minorities. Continue reading »
India’s benchmark equities index reached yet another intra-day high on Monday, as investors remain optimistic about the upcoming election. It follows the weekend’s big news: that Nandan Nilekani, one of India’s best-known businessmen, will stand as a candidate for the governing Congress party in Bangalore. Continue reading »
The discovery of oil and a rising consumer class had investors positive about Ghana’s growth story, holding up the west-African country as one of the frontier markets to invest in. But the recent broad sell-off in EMs has changed the mood about the country and exposed a slate of problems in need of resolution.
Source: Thomson Reuters
Continue reading »
From the recent rally in Indian equity markets it’s clear that investors have high hopes for an economic recovery after the forthcoming general election.
The expectation is that a strong and stable government will push through hard-hitting reforms and revive growth in Asia’s third largest economy. It seems, however, that chief executives are less optimistic that a change of government will create a swift turnaround. Continue reading »